HM Treasury has amended the FSMA Exemption order to include a new schedule for the names of any person exempt from the FSMA general prohibition in respect of any regulated activity, and has added National Wealth Fund Limited (formerly UK Infrastructure Bank Limited) to it with effect from 31 March. Formerly, the exemption did not cover effecting and carrying out contracts of insurance, but this is now included with the new intention that the National Wealth Fund will be able to give performance guarantees.
